MERCANTILE BANK CORP (MBWM)
2025-06-30 | 2025-03-31 | 2024-09-30 | 2024-06-30 | |
|---|---|---|---|---|
| Noninterest revenue-Interest Rate Swap Fees | 1,230 | - | - | - |
| Noninterest revenue-Credit And Debit Card | 2,350 | - | - | - |
| Noninterest revenue-Service Charges On Deposit And Sweep Accounts | 1,967 | - | - | - |
| Noninterest revenue-Payroll Processing | 783 | - | - | - |
| Other income | 602 | 348 | 781 | 811 |
| Mortgage banking income | 3,969 | 2,651 | 3,325 | 3,023 |
| Earnings on bank owned life insurance | 561 | 543 | 449 | 437 |
| Noninterest revenue | - | 5,160 | 4,010 | 3,958 |
| Payroll services income | - | - | 713 | 686 |
| Interest rate swap fees | - | - | 389 | 766 |
| Total noninterest income | 11,462 | 8,702 | 9,667 | 9,681 |
| Other expense | 6,086 | 4,869 | 5,490 | 5,262 |
| Occupancy | 2,155 | 2,118 | 2,146 | 2,220 |
| Salaries and benefits | 20,711 | 19,557 | 20,292 | 17,913 |
| Data processing costs | 3,599 | 3,770 | 3,437 | 3,415 |
| Furniture and equipment depreciation, rent and maintenance | 826 | 787 | 938 | 923 |
| Charitable foundation contributions | 2 | 3 | - | 4 |
| Total noninterest expense | 33,379 | 31,104 | 32,303 | 29,737 |
| Provision for credit losses | 1,600 | 2,100 | 1,100 | 3,500 |
| Subordinated debt and other borrowings | 1,938 | 1,937 | 2,095 | 2,088 |
| Short-term borrowings | 1,919 | 1,763 | 2,219 | 1,757 |
| Federal home loan bank advances | 2,897 | 2,898 | 3,218 | 3,252 |
| Deposits | 25,725 | 25,192 | 27,588 | 24,710 |
| Total interest expense | 32,479 | 31,790 | 35,120 | 31,807 |
| Securities, tax-exempt | 1,181 | 1,172 | 1,056 | 968 |
| Securities, taxable | 4,679 | 4,239 | 3,140 | 2,656 |
| Interest-earning assets | 2,136 | 2,935 | 3,900 | 2,436 |
| Loans, including fees | 73,962 | 71,992 | 75,316 | 72,819 |
| Total interest income | 81,958 | 80,338 | 83,412 | 78,879 |
| Net interest income | 49,479 | 48,548 | 48,292 | 47,072 |
| Net interest income after provision for credit losses | 47,879 | 46,448 | 47,192 | 43,572 |
| Income before federal income tax expense | 25,962 | 24,046 | 24,556 | 23,516 |
| Federal income tax expense | 3,344 | 4,509 | 4,938 | 4,730 |
| Net income | 22,618 | 19,537 | 19,618 | 18,786 |
| Average basic shares outstanding (in shares) | 16,239,919 | 16,197,978 | 16,138,320 | 16,122,813 |
| Average diluted shares outstanding (in shares) | 16,239,919 | 16,197,978 | 16,138,320 | 16,122,813 |
| Basic earnings per share (in dollars per share) | 1.39 | 1.21 | 1.22 | 1.17 |
| Diluted earnings per share (in dollars per share) | 1.39 | 1.21 | 1.22 | 1.17 |